Desmond, who is on good terms with Tony Blair, has given several donations to Labour including £100,000 prior to the 2001 General Election.
However, according to a report in the Sunday Times, he has told the Prime Minister in private conversations that he "doesn't like Brown -- either as a person or his policies".
Desmond is believed to be one of many City supporters of the Labour Party who have misgivings about Brown, with concern centring on his taxation policies.
A source told the Sunday Times that Desmond "doesn't like him, doesn't like his taxation policies and thinks he is trying to strangle enterprise" and that under "no circumstances would he support Brown financially or personally and he has made his position very clear to the Prime Minister".
Desmond made a £100,000 donation in the run-up to the 2001 General Election. It marked a switch of political allegiance for Desmond, who had formerly been a Conservative Party donor.
It has also been previously reported that Desmond offered a second donation to the Labour Party of £100,000, which was turned down after the party waded into controversy following the earlier donation.
New Conservative leader Michael Howard is targeting Labour Party donors and is reported to have met with Alan Sugar, the Amstrad boss, who is another current Labour donor.
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